Thursday, December 24, 2009

There seems to be more urgency on the sites works as there are more activities on site in the pass few days. The guard house and perimeter fencing are currently being constructed. I suspect they are starting to worry as LAD has commenced for some of the fellow purchasers.

Incidentally, I also received a letter from the Developer today stating that SR is nearing completion and that they had appointed a real estate agent to, and I quote "provide expert advise while assisting fellow owners to sell or lease out their apartments on the soonest basis with the highest return".

Well, let us all hope that this agent will help to stabilize and maximize the sales price and apartment rentals of SR.

General View Of The Site With External Works In Progress

View Of The Guardhouse Being Constructed

View Of The Guardhouse And Perimeter Fencing Being Constructed, Like The Stepped And Staggered Fencing Design :)

Thursday December 24, 2009

Property tax only for sales within five years of purchase

PUTRAJAYA: The real property gains tax (RPGT) announced during the 2010 Budget will now only apply to property sold less than five years from its purchase, Datuk Seri Najib Tun Razak said.

The Prime Minister said the 5% tax would now only be imposed on property sold within five years of the date of purchase.

He said the decision would cause the Government to lose about RM200mil in revenue, adding the move was made following appeals from the Federation of Chinese Associations of Malaysia (Hua Zong) and the business sector.

“This was also decided upon as the Government wants to see a stronger growth in the property sector next year. We are willing to forgo a substantial amount of revenue so that the sector can expand and grow.

“The property sector has shown signs of improvement but we feel that it requires further impetus so that it can continue to grow from strength to strength.

“We have met one of Hua Zong’s request and we hope they will respond accordingly by working even closer with the Government in the future,” he said at the swearing-in ceremony of Hua Zong’s office bearers for the 2009-2011 term at a hotel here last night.

Najib also announced that hotels undertaking additional investments to renovate, refurbish and expand their property would enjoy 60% re-investment allowance extended to 15 years, adding that the incentive was for a period of 10 years.

Najib said he also wanted to see a more active private sector, which he noted had been rather “lethargic” and had been more interested in investing abroad compared to domestically.

He also said that the country needed leaders who were moderate and pragmatic in fighting for the interest of the people.

“The Chinese can fight for the rights of the Chinese while the Malays can fight for the Malays. Likewise with other races. But it does not have to be at the expense of others,” he stressed.